The cash account for Online Medical Co. at June 30, 2012, indicated a balance of $9,375. The bank statement indicated a balance of $10,760 on June 30, 2012. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: 1. Checks outstanding totaled $3,900.
2. A deposit of $4,000, representing receipts of June 30, had been made too late to appear on the bank statement.
3. The bank had collected $2,100 on a note left for collection. The face of the note was $2,000.
4. A check for $550 returned with the statement had been incorrectly recorded by Online Medical Co. as $500. The check was for the payment of an obligation to Hirsch Co. for the purchase on account.
5. A check drawn for $60 had been erroneously charged by the bank as $600.
6. Bank service charges for June amounted to $25.